Cryptocurrency’s popularity is skyrocketing. Cryptocurrency, like Bitcoin or Litecoin, has gone from being something obscure to something that is now considered mainstream. You hear a lot of people talk about Bitcoin. You may own Bitcoin yourself or know of people who do. There are even Bitcoin or Litecoin ATMs in Kansas City, MO, that are available in many places. However, most people do not truly understand what Bitcoin is or why it is even a currency.
Bitcoin is decentralized currency. Basically, this means that it is a virtual currency that you can use to buy things or that you can sell that are not dependent on a centralized bank. You can compare it to credit cards. These are controlled by a central bank. The bank has a massive ledger that is hosted somewhere. That ledger is linked to you and tells you how much currency you have available.
Cryptocurrency has a ledger that thousands of computers around the world maintain. Unlike banks that have a central ledger and can be hacked or altered, it is virtually impossible to hack the cryptocurrency ledger because there are thousands of systems around the world that are constantly backing up each transaction.
Bitcoin or Litecoin ATMs in Kansas City, MO, are making it easier for people to get access to cryptocurrency. Since more retailers are accepting cryptocurrency, its use and value continue to grow. Governments have tried unsuccessfully to regulate cryptocurrency. This deregulation is one of the perks of this form of currency that people love.
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